Mahmud Abbas, the PLO chairman, celebrates with supporters after proclaiming victory in the Palestinian presidential election.(Xinhua/Reuters Photo)

PLO chief Mahmoud Abbas can start a new chapter in Mideast history, Israeli newspaper Jerusalem Post quoted President Moshe Katsav as saying Sunday.

He pronounced the coming months as "the most fateful" in Israeli-Palestinian relations.

Katsav said the peace process can be revitalized and the foundations can be laid for the creation of a sovereign independent state of Palestine if the new leader does take action against Palestinian extremist groups.

An exit poll conducted by the independent Palestinian Center for Policy and Survey Research showed that Abbas won 66 percent of the votes in Sunday's Palestinian presidential election.

The official result will be announced Monday.